Please see below for a few informational items for CIRS Participating Employers.
2021 Informational Items
CIRS Member Resources Guide
- In order to assist our employers and our members, we have created the attached CIRS Member Resources Guide with the current contact information for our vendors. The flyer has the phone number and website information for each of the CIRS plans on one page.
- The second page contains a reminder of the CIRS office’s one-on-one remote meetings. Please provide this flyer to all your CIRS Eligible Employees.
- As a reminder, members that need assistance completing their final retirement paperwork, can make an appointment for a remote meeting with a CIRS staff member. These appointments can be made by calling the CIRS office at 212-674-0101.
CIRS Plan Highlights (English and Spanish versions)
- The CIRS Plan Highlights provide a high-level overview of the CIRS Plans which can be distributed to your CIRS Eligible Employees. Note that there are two separate Plan Highlights – one for Eligible Employees who were hired prior to October 1, 2016 (Tier I Members under the Pension Plan) and one for Eligible Employees hired on or after October 1, 2016 (Tier II Members under the Pension Plan).
2021 IRS Compensation Limits
- The IRS sets annual limits on the salary that can be used in a retirement pension plan such as the CIRS Pension Plan. These limits are applied on a plan year basis (July 1 – June 30). The CIRS Pension Plan already takes these limits into account for all required purposes (benefit amounts, employer contributions, etc.). However, you as the employer, must be aware of these limits as they apply to the employee contributions for Tier II Members under the CIRS Pension Plan. The July 1, 2020 to June 30, 2021 compensation limit is $285,000 which means that the maximum Tier II employee pension contribution is $8,550 for the 2020-2021 Plan Year. These amounts will increase to $290,000 and $8,700 for the 2021-2022 Plan Year.
2021 IRS Pre-Tax Contribution Limits
- The IRS sets annual limits on the amount of pre-tax contribution employees can make to a 401(k) plan. These limits are applicable on a calendar year basis (January 1 – December 31). For 2021, these limits remain at $19,500 for regular 401(k) pre-tax deferrals and $6,500 for 401(k) pre-tax catch-up contributions.
2021 Employee Contribution Catch-up Form
- Employee contribution elections (pre and post-tax) to the CIRS 401(k) Savings Plan should be made by members through Voya. However, if members wish to elect catch-up contributions, they must complete the attached Catch-up Form and submit to you (the employer). Catch-up contributions are additional pre-tax contributions that members who will be age 50 or older by the last day of the calendar year can make in addition to the IRS regular pre-tax contributions.
Voya eDelivery Flyers
Voya has identified members who are not currently using the edelivery option for communication from Voya. On September 30, 2019, Voya mailed out postcards to encourage this group to take advantage of the e-delivery option and use their online system. The links to flyer versions in English and Spanish of that same postcard to be displayed in your offices are found below.
Please contact our office at 212-674-0101 and ask to speak to a Member Servicers Representative if you have any questions.
2018 Voya Encourage to Save Flyers
Since contribution to the CIRS 401(k) Savings Plan became optional on January 1, 2017, the overwhelming majority of new members are not making 401(k) deferrals. The purpose of these flyers is to stress the benefits of 401(k) participation, please hang them in a location where all employees can view them easily. For members that prefer Spanish, Voya has prepared the enrollment encouragement flyers in Spanish as well as English, and they are located below.
2018 Voya Encourage to Save Mailing
Voya has identified members that never contributed or did in the past but then stopped. On June 7, 2018, Voya mailed out postcards encouraging members to start or restart contributing to their 401(k) plans. The links to the postcards can be found below.